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2 Clerico Ln, Hillsborough, NJ 08844
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Property summary
AI-generated overview
Carriage Farm offers a unique opportunity to lease flexible commercial space, ideal for a variety of businesses. This multi-use property totals 4,152 square feet and is currently entirely vacant, presenting a blank canvas for your operation. The space is divisible into units as small as 88 square feet, perfect for smaller startups or satellite offices, while larger contiguous spaces of up to 2,197 square feet are available for businesses requiring more expansive areas. The property's diverse suitability caters to a wide range of needs, encompassing executive office space, flexible work environments, research and development facilities, manufacturing operations, warehouse storage, and distribution centers. The interior features a mix of hardwood and carpeted flooring, offering versatility in design and layout. Each unit benefits from a private entrance, ensuring privacy and independent access. The property is available for lease immediately, providing a prompt opportunity to establish your business in a well-appointed and adaptable space. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
1,521 SF
Lot
4.15 ac (180,861 SF)
Zoning code
GC
APN
10 00200- 10-00004
UPID
US59-1565675
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Business To Business Service
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.93M
Owner & transaction history
since 2025
Last sale
$6.0M
3 recorded transactions
Zoning & alternative use
GC · Hillsborough, NJ
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 12 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$6.93M
Value range
$6.24M – $7.62M
±10% around blend
Estimated value / SF
$4,556 / SF
Confidence
High
12 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
100
Income certainty
100
$6.24M
blend $6.93M
$7.62M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,521 SF
Lot area
4.15 ac
Year built
1988
APN
10 00200- 10-00004
Zoning
GC
Assessed value
$5,044,900
Annual tax
$108,617
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$108,617
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$368k
Weighted, 12 comps · high confidence
Evidence
12 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.8 mi away · 1,317 SF
16.5 mi away · 1,728 SF
18.2 mi away · 1,350 SF
19.9 mi away · 1,740 SF
23.4 mi away · 1,360 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.93M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 25 sales
$206
+2,109%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $4,556/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 12 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$666k
Move the market yield to see immediate price impact.
Value / SF
$438
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$42k
$839k
$599k
$466k
$47k
$932k
$666k
$518k
$51k
$1.03M
$732k
$570k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
12 found
High confidence · county-verified
Closest comparable
$709k
6.8 mi · Jan 2026 · $402/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$108,617
Tax year 2023
Assessed value
$5,044,900
Assessed 2024
Previous assessed
$5,044,900
+0.0% YoY
Effective rate
2.15%
On assessed value
Assessed land
$1,765,700
Assessed improvement
$3,279,200
Land market value
$1,765,700
Improvement market value
$3,279,200
Total market value
$5,044,900
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1988
Heating
NONE
Units
1
Rooms
10
Total area
1,521 SF
Lot
4.15 ac (180,861 SF)
Zoning code
GC
APN
10 00200- 10-00004
UPID
US59-1565675
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
GC · Hillsborough, NJZoning GC · permitted uses
GC · Hillsborough, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Units
1
Rooms
10
Lot
4.15 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
GC
Jurisdiction
Hillsborough, NJ
Recorded code
GC
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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